The university is seeking a student accommodation development partner for the commercial delivery of the Temple Quarter Enterprise Campus (TQEC) in the vicinity of Bristol Temple Meads railway station.
A supplier event will be held at the Engine Shed, Station Approach, Bristol on 11 December. A contract notice is to be released on 13 December.
Current proposals are for a minimum of 1,000 beds and in the region of 43,400sq m of academic buildings. The TQEC will make provision for around 3,000 students and 800 members of staff. It is anticipated that the student residences agreements will deliver an off-balance sheet transaction (or one that has minimal impact on the university's balance sheet) and a capital receipt to the university.
Under the plans, the partner will provide equity for the student residences facility, with a special purpose vehicle (SPV) formed and governed by a shareholders agreement, with the university also a shareholder.
The SPV will form the primary contracting entity for the delivery of the student residence and the vehicle into which equity and sub-debt will be injected. The university envisages entering into a project agreement with the SPV for an operation term of 50 years from completion.
The partner will run a competition to secure the financing for the SPV and together with the university, procure building contractor contractors for both the residential and academic buildings, as well as public realm.
Given that the student numbers of the university are set to increase to 28,000 by 2024/25, the university anticipates that the strategic partnering agreement may also put in place a non-exclusive agreement to work as an ongoing development partner for the future student accommodation and other building requirements to meet the university's growth requirements over an initial term of five years, but which may be extended.
As previously reported, plans have been lodged for the £300m campus.